scenarios for the future of the canadian payments system authentication and identity workshop
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Scenarios for the Future of the Canadian Payments System Authentication and Identity Workshop November 3, 2010. Greg Wolfond. Identity and Authentication. Are they the same?. 2. Identity and Authentication. - PowerPoint PPT PresentationTRANSCRIPT
SCENARIOS FOR THE FUTURE OF THE CANADIAN PAYMENTS SYSTEM
AUTHENTICATION AND IDENTITY WORKSHOP
NOVEMBER 3, 2010Greg Wolfond
Are they the same?
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Identity and Authentication
Authentication (from Greek: αυθεντικός ; real or genuine, from authentes; author) is the act of establishing or confirming something (or someone) as authentic, that is, that claims made by or about the subject are true ("authentification" is a French language variant of this word).
● Thanks to Wikipedia
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Identity and Authentication
3 ways to authenticate.
What I Know
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Authentication
User ID and password
Knowledge based questions
Personal Information
3 ways to authenticate.
What I Know
What I Have
What I am
Combination is strongest! Eg Chip and PIN
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Authentication
This graph shows the increase in the number of unique malicious programs used to steal money from Internet users. Source: Kaspersky LabAs banks roll out new security technologies and techniques, the criminal underground quickly develops means to defeat these technologies. The exploits are rapidly (often within 30 days) widely available in numerous crimeware variants that criminals can purchase over the Internet. Attacks are often hosted on computers in different countries that where the banks and their customers are located, making it very difficult to get websites that host malware or command & control servers taken down.Mashevsky concludes that to make meaningful progress in the battle against an exponentially growing threat will require much tighter cooperation between financial institutions, their customers, the security industry, and government agencies.
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Challenge with Online Authentication
On Top Of The Direct Revenue Losses, Cost of Stolen
Goods/Services And The Associated Delivery/Fulfillment Costs…
…There Are Additional Profit Leaks From Rejection Of Valid Orders,
Manual Review Costs & Administration Of Fraud Claims
Source: Annual Fraud Report (2009), CyberSource Corporation
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$4B Per Year In Online Fraud Losses For Merchants In The U.S. & Canada
Complete Checkout Form Authenticate Pay
Integrated Checkout Solutions Disintermediate FI’s From Clients And Take Transactions Away From Card Issuers And Networks
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In the Online space Non-FI’s Are Stepping In To Meet The Needs Of Shoppers & Merchants
Authentication is often.. (esp in online world)
Authorization is the function of specifying access rights to resources, which is related to information security and computer security in general and to access control in particular.
Separate from
Identification : or Identity Verification a: an act of identifying : the state of being identified b: evidence of identity ● Thanks to Wikipedia
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Identity and Authentication
Most of the time picture ID.
No relationship between the provider of the ID and the relying party
Often Mag stripe.. Easy to copy. Not easy to verify
What’s the dollar cost to the industry? What’s the value in making the credentials stronger?
How to make it work in the physical and online worlds?
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Identity Documents
Privacy is a big factor in any system
No relationship between the provider of the ID and the relying party is a key tenant
Is privacy good enough today in the physical world? NO
Physical world system wouldn’t work online. (Tap your card and give everyone your name and address)
How could it be better?
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Privacy
Authentication - EMV (contact or contactless) at POS What authentication is needed online?
Identification - Physical and Online - what needs to be done?
Government involvement needed? Should playing field be level? All players
do the same KYC, AML or new entrants ride free?
Privacy - An obstacle or an opportunity?
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Things to think about for the scenario planning